Cipher Mining has been renamed Cipher Digital and is shifting from a Bitcoin mining company to HPC infrastructure.

PANews reported on February 24th that, according to CoinDesk, Cipher Digital, formerly known as Bitcoin mining company Cipher Mining, saw its stock price fall by approximately 5% in pre-market trading after releasing its fourth-quarter earnings report. The company reported fourth-quarter revenue of $60 million, below analysts' expectations of $84.4 million; adjusted loss per share of $0.14, higher than the expected loss of $0.06; and a quarterly adjusted net loss of $55 million.

Management described 2025 as a year of transformation, with the company shifting from Bitcoin mining to high-performance computing infrastructure. This quarter, Cipher secured 600 MW of contracted capacity, including a 15-year 300 MW lease with Amazon Web Services and 10-year 300 MW leases with Fluidstack and Google. The company raised $3.73 billion through three senior secured bond offerings to fund the Barber Lake and Black Pearl data center projects. Cipher also sold approximately $40 million worth of stock, representing a 49% stake in three mining joint ventures, to streamline its structure and advance its data center-centric business model transformation.